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Judgment Search Results Home > Cases Phrase: rationale Court: income tax appellate tribunal itat jaipur Year: 1995 Page 1 of about 1 results (0.041 seconds)

Jan 17 1995 (TRI)

Rattanlal Dangi Vs. Income-tax Officer

Court : Income Tax Appellate Tribunal ITAT Jaipur

Decided on : Jan-17-1995

Reported in : (1995)53ITD260(JP.)

1. all these appeals and cross appeals involve a common issue and hence are disposed of by this consolidated order for the sake of convenience.2. in all these cases, the assessees, who are brothers, jointly owned a piece of land admeasuring 8 bighas and 1 biswas at moti magri scheme within the municiple limits at udaipur. the said land was jointly sold to hindustan zinc ltd. during the year under consideration for a total consideration of rs. 8,75,516. notices were issued by the assessing officer (a.o.) under section 139(2) to all of them to file their returns of income. the assessees failed to comply with the said notice.subsequently, notices under section 142(1) were also issued but no compliance was made in spite of several opportunities. the ao, therefore, completed the assessments under section 144 on 25-2-1985 on the basis-of material available with him and estimated the incomes as follows :shri rattanlal dangi rs. 2,14,430 rs. 5,000shri tolaram dangi rs. 2,14,930 rs. 5,000shri fatehlal dangi rs. 2,41,390 rs. 5,000 3. simultaneously the ao initiated penalty proceedings under section 271(1)(a). on appeal against the above assessments,-the learned cit(a) set aside the assessments on 5-9-1985. during the set aside proceedings the assessees filed their respective returns of income on 25-3-1988, declaring nil income and the ao completed the assessments on 25-3-1988 itself determining the total incomes as assessed earlier on 25-2-1985.on appeal, all the three assessees got a .....

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